Free Shipping on orders over US$39.99 How to make these links

China’s Ban on Micron Chips Is ‘Economic Coercion’ and Will Not Be Tolerated, Says Gina Raimondo

Commerce Secretary Gina Raimondo said the US “will not tolerate” the recent decision by Chinese authorities to ban chips by Micron Technology Inc in some critical areas, using her sharpest language yet to describe Washington’s response. Used to be.

“We see this as, plain and simple, economic coercion,” she said, using a phrase both sides have lobbied at each other amid recent tensions. “We will not tolerate this nor do we think it will be successful.”

The latest technology tensions between the two global powers began last Sunday, when China’s cyberspace administration warned major infrastructure operators against buying Idaho-based Micron’s chips, saying it would “do so” after a review announced in March. relatively severe” risk. Following this, in October, the US imposed a comprehensive ban on the export of high-end chips to China and the technology to make them.

Raimondo’s comments came Saturday after the two sides had a chance to air their grievances in person this week and pledged to keep up the communication. Raimondo met his counterpart Wang Wentao in Washington on Thursday, followed by a similar meeting with United States Trade Representative Catherine Tai on Friday.

Those meetings are part of a broader intention by the administration of President Joe Biden to resume high-level discussions with Beijing, including possible visits to China by Treasury Secretary Janet Yellen and further direct talks between Biden and President Xi Jinping. .

The US commerce chief reiterated on Saturday that Washington views the crackdown on Micron as having “no basis in fact” and that the US is conflicted with its partners in how to respond.

South Korea, a major trade partner with China and security partner with the US, is caught in the middle of the dispute as its memory chip makers Samsung Electronics Co and SK Hynix Inc look to potentially benefit from Micron’s loss of market share in China. are ready for. , Both Washington and Beijing are lobbying their counterparts in Seoul.

Wang’s commerce ministry said in a statement over the weekend that he had met with South Korea’s Trade Minister Ah Duk-geun on Friday and they agreed to strengthen dialogue and cooperation on semiconductor supply chains. A separate statement from Ahn’s office on Saturday about the talks made no reference to semiconductors, only “stabilizing supply and demand for key raw materials and components.”

From the Fortune Well team, subscribe to Well Adjusted, our newsletter, filled with simple strategies for working smarter and living better. Sign up today.

We will be happy to hear your thoughts

Leave a reply

Dont guess! Start Ghech!
Logo
Compare items
  • Total (0)
Compare
0
Shopping cart